Statement of Karen Hudes for the Development Committee on Behalf of the United States

30 Sep


Save our humanity:

10//2016 (Statement of Karen Hudes for this upcoming WB/IMF Annual Meeting)

WASHINGTON – We are at a fork in the road for the Bretton Woods institutions. On January 3, 1949 José Rizal placed the world’s monetary gold reserves and other asset commodities in trust as a gift of love, to be returned to humanity by the Board of Governors of the World Bank and IMF at the end of 50 years of sequestration.2 The world’s peoples and nations agreed to this gift of love. The terms of the trust are spelled out in the Bilateral Minesfield Breakthrough Successor Agreement.3 The gift of love prevents World War III and another Dark Ages.

Harry Truman and Dwight Eisenhower accepted these terms on behalf of the people of the United States of America, and other nations are similarly bound by this sacred treaty. At the inaugural meeting of the Board of Executive Directors of the World Bank in 1946, the Governor for the United States of America reassured the other nations that the Bretton Woods institutions would respect the other nations’ property in this trust by ensuring that it was up to the Board of Executive Directors to interpret the Articles of Agreement of the World Bank.

As a lawyer in the World Bank’s legal department for twenty years, when the Articles of the World Bank were violated, I reminded the Board of Executive Directors that they were responsible for interpreting the Articles of Agreement. My efforts to reassert the rule of law at the Bretton Woods institutions were played out on the world stage after I bought a World Bank bond and sued in the US federal court system.

The Board of Governors has made me the Overseer Mandate Trustee of the trust containing the world’s monetary gold reserves and other wealth. At the Annual Meetings in Lima, Peru in October, twenty delegations agreed that I speak on behalf of the Board of Governors on matters involving the world’s monetary gold reserves and other wealth, and that any nation who disagreed would record their dissent in writing. The New York Missions and Tokyo embassies have confirmed this arrangement. This has me to invalidate any and all attempts to disinherit the world’s peoples as beneficiaries of the trust bequeathed to all of mankind as a gift of love:

1 The legitimacy of the US federal court system and the US government were irrevocably called into question when the DC Court of Appeals refused to respect the Board of Governors’ settlement of my lawsuit. 2 3 4 122759/Rendered/PDF/833530BR0Bank00Box0382087B00PUBLIC0.pdf

Delivering the Global Currency Reset

The fractional reserve fiat currencies oppress and exploit humanity, only for the benefit of a Network of Global Corporate Control. This Network of Global Corporate Control has come into view, when secrecy was what the Network required in order to continue its agenda of sowing dissension and hatred among the peoples. The Board of Governors has placed this Network of Global Corporate Control into receivership, and has authorized liens to be placed against the entire Federal Reserve System, including Illinois. In order for the Global Currency Reset to proceed in an orderly and transparent manner, amnesty from punishment will be granted. This does not mean amnesty from opprobrium. This does not mean a guarantee of continued employment.

Strict adherence to the Articles of the Bretton Woods institutions, and the respective roles of the Board of Governors, Development Committee, Boards of Executive Directors, and subservient role of the secretariat must be respected so that the world’s peoples can receive José Rizal’s gift of love. As a first priority, the capture by the Network of Global Corporate Control of the WBG’s and IMF secretariats must be reversed. The Board’s Drysdale Committee on Human Resources Management has already prepared a workable action program to guide the way forward. Achieving our global development goals is only possible if we successfully address this challenge.

We encourage close coordination and cooperation with the Asian Infrastructure Investment Bank in working together in the transition to national currencies minted from the nations’ monetary gold reserves and local currencies introduced in the villages and towns. The importance of the WBG working effectively with other international financial institutions cannot be overstated. When the rule of law in the Bretton Woods institutions is observed faithfully, collaboration and cooperation can be readily attained.

Responding to Discoveries of Assets owned by the trust for the benefit of humanity

The Board of Executive Directors and the Board of Governors are empowered under the Articles of Agreement of the WB and IMF to deal with issues arising in the Global Currency Reset in a transparent manner. This will include the distribution of assets such as the Kohinoor Diamond, the Amber Room, and other art treasures that have been located. The Development Committee also has a constructive role to play, as it works through the details in the Letter of Intent agreed with the Governor of the Central Bank of Taiwan and with YCT Corporation.5 Prospects for growth will improve dramatically as new technologies on energy, health, and transportation are released. With an end to legal tender laws in the Global Currency Reset, local currencies will also stimulate growth in employment and shared prosperity.

For the WBG to have credibility with its clients, the WBG must be held to account for adherence to the rule of law. This means keeping faith with its founders and the terms on which it came into being, and carrying out the sacred mandate with which it is entrusted: José Rizal’s gift of love. This means that the secretariat has to be reframed at once in order to respect the terms of the Bilateral Minesfield Breakthrough Successor Agreement, as well as the authority of its member countries.

We stand on the brink of a new tomorrow as we accept José Rizal’s gift of Love.

_________________                                                                                                                          5 

1. The Development Committee met today, October 8, in Washington, D.C.

2. In this critical year, the international community is emerging from a highly corrupt international financial system. The global economy is in turmoil due to the risk of permanent gold backwardation as fractional reserve fiat currencies weaken from unrestricted quantitative easing. We recall the decision of the Development Committee at the 2014 Spring Meeting to exchange fractional reserve fiat currencies for currencies minted from the international monetary gold reserves deposited by José Rizal in the Global Debt Facility as an act of love.

3. The Development Committee calls on the World Bank Group (WBG) and the International Monetary Fund (IMF) as an interim measure until gold currencies can be minted, to assist in the exchange of fractional reserve fiat currencies issued by the Bank for International Settlements for currencies issued by the country Treasuries . Certificates of exchange will need to be issued to residents and the appropriate ceilings established for the amount of currency that each individual may receive. This is in preparation for the ultimate exchange of paper Treasury currencies into national currencies containing gold from the Global Debt Facility.

4. The WBG and IMF are encouraged to assist member countries account for national indebtedness in preparation for debt being offset against the Treaty of Versailles bonds held in the Global Debt Facility that is administered by the Board of Governors. The private banks are in receivership in the Global Debt Facility, and will be resolved in the Global Currency Reset.

5. As local communities start to work themselves free from the secret domination and control that has plagued mankind from time immemorial, there are many lessons to be learned from the grassroots in order to benefit from José Rizal’s gift of love. Local communities are transitioning to local currency, as legal tender laws that are against common and natural law are unenforceable. We call on the WBG and the IMF to support community efforts to transition to local currencies in villages and towns.

6. Now that the sequestration of the world’s monetary gold reserves is ended, and in line with the Board of Governors’ and the International Bank for Reconstruction and Development Board of Executive Directors’ original mandates, the June 4, 1947 Memorandum with Regard to Organization and Loan Procedure is no longer applicable. We expect the WBG and the IMF to take direction from the Board of Governors and the Boards of Executive Directors, as mandated under the Articles of Agreement of the WBG and IMF. The Development Committee provides necessary oversight in the Global Currency Reset on behalf of the Board of Governors.

7. The Board of Governors will authenticate each and every disbursement from the Global Debt Facility. Claims over the ownership of the assets in the Global Debt Facility have all been extinguished by passage of time and the statute of limitations. Accordingly, each and every dispute, including claims of right of ownership in the assets of the Global Debt Facility in the South China Seas that have not been authenticated by the Board of Governors have no standing. The Development Committee will resolve peacefully, as intended, the allocation of assets in the Global Debt Facility upon the principle that no nation or people has right of claim in precedence over any other.

8. We ask the Boards of Executive Directors of the WBG and IMF to direct their efforts in strengthened oversight. For this to happen, we require an audit of the financial statements of the International Bank for Reconstruction and Development and the International Finance Corporation in accordance with Generally Accepted Accounting Principles. The conflicts in the Administrative Tribunal, whereby judges are given arbitration contracts from the International Centre for the Settlement of Investment Disputes, are to be brought into the sunlight, and resolved, with affected staff made whole. Other parts of the Conflict Resolution System are to be brought into compliance with a robust system of internal controls. The Institutional Integrity Department, which has a proven record that is counterproductive and at cross purposes to strengthened internal controls, is no longer required. The human resources function of the WBG and IMF will report directly to the Boards of Executive Directors in accordance with the recommendations of the Drysdale Committee under the Strategic Compact in the Global Currency Reset.

9. Looking ahead, there are many challenges for the WBG and the IMF to regain credibility. It is incumbent on the WBG and IMF to become more accountable and restore the confidence of the international community. This will be facilitated through learning from the grassroots and encouraging other international actors, including the African Development Bank, Asian Development Bank, European Bank for Reconstruction and Development, European Investment Bank and Inter-American Development Bank to do so as well. The WBG needs to be open to new chronology and history of the ancient and medieval world, corrected climate data, free energy, and other censored information.

10. We ask the WBG to strengthen collaboration to promote South-South cooperation and to be receptive to boost shared prosperity in a sustainable manner.

11. The next meeting of the Development Committee is scheduled for April 22, 2017 in Washington, DC.

(last year’s statement at the Spring Meetings, which was mailed to the Washington Embassies and the members on the Board of Governors, can be found at

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